Guidewire Software (NYSE:GWRE) Upgraded at Guggenheim

Guggenheim upgraded shares of Guidewire Software (NYSE:GWRE) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts also recently issued reports on GWRE. The Goldman Sachs Group dropped their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. DA Davidson reduced their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, June 8th. BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their target price on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.00.

Guidewire Software Stock Performance

GWRE stock opened at $138.34 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The business has a 50-day moving average price of $132.87 and a 200 day moving average price of $141.68. The company has a market capitalization of $11.52 billion, a P/E ratio of 74.78 and a beta of 0.95. Guidewire Software has a 1-year low of $102.30 and a 1-year high of $272.60.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. As a group, equities research analysts forecast that Guidewire Software will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, CAO David Franklin Peterson sold 246 shares of Guidewire Software stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $29,210.04. Following the transaction, the chief accounting officer directly owned 12,287 shares of the company’s stock, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President John P. Mullen sold 4,292 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the transaction, the president directly owned 131,115 shares in the company, valued at approximately $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 30,193 shares of company stock valued at $3,792,858 over the last quarter. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter valued at approximately $25,000. Amundi lifted its stake in shares of Guidewire Software by 703.0% during the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after buying an additional 31,598 shares during the period. Jump Financial LLC acquired a new stake in shares of Guidewire Software during the second quarter worth $305,000. Bank of Nova Scotia grew its holdings in shares of Guidewire Software by 30.9% during the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock valued at $477,000 after buying an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after buying an additional 1,152 shares during the last quarter.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.